Supporting you with MTD for Income Tax
There are eight key steps in the MTD for Income Tax client life cycle and TaxCalc has the tools to assist you with each of them.
Problem...
Sole traders and landlords receiving gross income over £50,000 in 2024/25 will be brought into MTD in April 2026, with those exceeding £30,000 in 2025/26 joining them in April 2027. How can you tell, at a glance, which clients are affected?
Solution...
Every TaxCalc customer has free access to the Report Manager within TaxCalc Practice Manager. From here you can create any number of reports driven by the data contained within the wider TaxCalc eco-system, including a list of clients whose turnover from self-employment and land & property combined exceeds the £50,000 and £30,000 thresholds.
Insider tip
You can generate these reports now using advanced data mining, or you can wait for our Summer Release where we will include a done-for-you report as standard.
Watch our short MTD Tech Tip Video series to learn more.
Problem...
Not all my clients want or need to use an all-singing all-dancing cloud bookkeeping solution. What’s wrong with a good old spreadsheet?
Solution...
Absolutely nothing! In fact, it’s probably going to be the preferred solution for most property landlords. Worry not, MTD Quarterly Filer will extract the income and expense totals from your existing spreadsheets and submit them to HMRC to satisfy the MTD for Income Tax quarterly reporting requirements.
Insider tip
You can download MTD-ready spreadsheet templates from our website with all the correct MTD income and expense categories pre-populated for both the self-employed and property landlords.
Problem...
The default MTD quarters coincide with the tax year and therefore run awkwardly to July 5th, October 5th, January 5th and April 5th. We anticipate most clients opting to use the calendar quarter election that will allow them to report to June 30th, September 30th, December 31st and March 31st. In both cases the filing deadline will run just over a month to the 7th (the same deadline as for VAT). How can you track all these deadlines across your client base?
Solution...
Every TaxCalc customer can track MTD for Income Tax quarterly update periods and deadlines for FREE within Practice Manager. Those that want to power up the management of their practice and track the flow of that work, and always see who the job is assigned to and what stage of completion the job is at, can opt for TaxCalc WorkFlow - your complete work management solution.
Insider tip
With TaxCalc WorkFlow you can automatically generate the next quarter’s update within MTD Quarterly Filer as soon as you have completed the current quarter - just as you can for VAT returns in VAT Filer, tax returns in Tax Return Production and annual accounts in Accounts Production.
Discover what is achievable in our TaxCalc WorkFlow masterclass.
Problem...
How are you going to consistently request the information you need every quarter from your clients in order to file those MTD for Income Tax quarterly updates on time, every time?
Solution...
With TaxCalc Communications Centre you can automatically generate information request emails from a personalised template so that you never forget to start contacting your clients as soon as you need to. You can also set up automatic request reminders, at your pre-determined interval, to keep requesting the information until you mark it as received.
Insider tip
In the run-up to MTD for Income Tax going live in April 2026, TaxCalc Communications Centre is also an excellent tool for disseminating important information to your clients in bulk. If you combine it with our advanced data mining facility you can ensure only relevant clients receive the information they need.
Watch our Communications Centre masterclass.
Problem...
You have some clients with barely any records to speak of. You have some clients on spreadsheets. You even have some clients using weird and wonderful bookkeeping software that will not be MTD ready by April 2026, if ever. How are you going to keep those clients compliant?
Solution...
Fear not, MTD Quarterly Filer is your catch-all bridging solution for MTD for Income Tax. Clients with no records? Get them on a spreadsheet. Clients on spreadsheets? MTD Quarterly Filer will handle all the submissions. Clients on something weird and wonderful? As long as you can export the data into a spreadsheet, MTD Quarterly Filer has it covered.
Insider tip
If you have clients who will be doing the quarterly updates themselves, or perhaps using a bookkeeper to do so, you can always check whether they have filed on time (and what they have filed) by pulling down the most recent submission details for any client whom you are authorised to act – irrespective of the filing software they used.
Watch an end-to-end demo of MTD Quarterly Filer in action.
Problem...
What does the end of year look like for an MTD client? Will I need more software to handle those clients? Will my team need to be trained on it? Will it integrate with all my other software?
Solution...
All end-of-year tax submissions, whether under MTD or traditional Self Assessment, will be handled by TaxCalc Tax Return Production, ensuring your clients’ tax positions can be finalised as easily as they are today. No new software, no steep learning curve, no change in process.
Insider tip
Save time during the busy filing months by submitting all your tax returns in one go using our Batch Filer functionality. You can use this for individual, partnership, trust and corporation tax returns.
Watch this short Batch Filer demonstration. Just one of many great time-saving features.
Problem...
Is there somewhere for the clients to sign the quarterly updates? What about the end of year return? Does this have to be a digital signature? How will you be sure approval has been given before you submit?
Solution...
There is no formal declaration for the quarterly updates like there is for the end-of-year finalisation but many accountants we’ve spoken to want a formal record of the client’s approval to submit. TaxCalc eSign Centre is the ideal solution for electronic signature and is fully integrated into all our products, making it a doddle to use.
Insider tip
eSign Centre can automatically chase your client for their approval at a frequency pre-determined by you. You and your team can also be copied into the signing process for full visibility.
Watch a recent Power Hour webinar where our expert team demonstrate how to get documents approved and much, much more.
Problem...
How do you keep a record of everything you have done for the client in respect of MTD for Income Tax alongside everything else you do for them? What if you client wants copies of everything you have submitted or a record of the predictive calculations received back from HMRC?
Solution...
TaxCalc Document Manager - powered by SmartVault - is our integrated, cloud-based, electronic document management system purpose built to streamline document workflows, enhance client interactions and ensure secure file sharing.
Insider tip
Create a shared workspace for your clients so they never again have to ask you to dig out three year’s worth of SA303s or copy accounts and tax returns. Just direct them to their vault and it will all be there waiting for them.
Watch a recent webinar on our document management capability.
View our 8 Steps of MTD infographic
Get our MTD Action Plan
Containing the 10 activities you’ll need to make and a timeline of when to make them.
Get ready for MTD Today
Our comprehensive suite of tools ensures you’re prepared for the transition to MTD for Income Tax.
Our solutions integrate seamlessly, making it easier for your practice to stay compliant and efficient.
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